Graham Steele announced in December that the provincial government expected a $365-million deficit for the 2011-12 fiscal year, which ends March 31.
A new figure will be released today, after Steele delivers a pre-budget speech to the Halifax Chamber of Commerce.
Steele has said the NDP government is sticking with its plan to balance the budget by 2013-14.
The next provincial budget will be tabled in early April.
The finance minister has already said there will be no tax increases in his spring budget.